FROM THE GLORY TO BE IN PRISION
Alberto Fujimori's government (1990 - 2000) was marked by his fight against terrorism, authoritarianism and corruption. Also, by the end of the 1980s, the country was experiencing an extremely high hyperinflationary crisis and also involved in an armed conflict against the Shining Path and the MRTA. All about Fujimori´s government
Upon reaching the presidency, the former president's main objective was to improve economic instability in Peru by using neoliberalism in politics as well as the privatization of Peruvian public sector companies to attract more foreign investment and thus reduce the hyperinflation that was hitting hard to the country several years ago. Also, a strong point in his government policy was the fight against terrorism since Fujimori hardened the fight against Shining Path and the Tupac Amaru Revolutionary Movement in order to put an end to terrorism.
In 1996, a year after being selected again in the general elections (1995), the president of that time (Alberto Fujimori) began political exercises to present the third consecutive time as a candidate for the mandate of the country, president. The presidency of the Republic created a controversy around explaining the Constitution (1993), issued by the National Assembly of the Democratic Peas after AutoGolpe (1992). Article 112 of the Magna Carta allowed the president. He returned to the elections for a row, these being altered for the benefit of Alberto Fujimori himself.
Additionally, the press lost more credibility, given that it became known that during the Fujimori regime one of its strategies was to buy the editorial lines of the media, particularly the sensationalist press, which specialized in catastrophic news and photographs of bad taste, also known as "chicha press". Its main function was to defame, attack and insult members of the opposition or even journalists who were uncomfortable for a regime that sought total control of information. According to a report from the Anti-Corruption Prosecutor's Office in 2014, 122 million soles had been spent on bribing these media.
It is important to mention that, Between 1985 and 1990, during the government of Alan García, the heterodox model of economic policy was applied, with disastrous consequences. negative GDP, inorganic monetary growth and hyperinflation, tax exemptions and fiscal deficit, negative trade balance, non-payment of external debt and international financial isolation, as well as international reserves in red. Between 1990 and 2000, during the government of Alberto Fujimori, the neoliberal economic policy model was applied, which began by applying a shock to the economy to stop hyperinflation, GDP growth did not face the circumstances, a privatization process was initiated to end the fiscal deficit. A tax reform was attempted without success and in the external sector, failure, because during that decade our trade balance was negative; that is, imports were greater than exports. In 2001, the transitional government of Valentín Paniagua tried to make economic policy transparent without substantive variations, and from 2002 to 2006, the government of Alejandro Toledo initiated a more coherent economic policy process that was remarkably successful. The growth of the GDP was sustained and the highest in the Americas, favored by the extraordinary prices of Latin raw materials in the world market, an effective monetary policy was applied that allowed for low inflation, a reasonable interest rate and an adequate exchange rate. This allowed the growth of our exports also in a sustained way and consequently a positive trade balance. It will be modified to restructure the external debt and apply a balanced fiscal policy with notable surpluses. As a consequence of all this, a macroeconomic stability was modified that became the support of sustained economic growth and a great attraction to attract investment.
Between 2006 and 2011, during the second government of Alan García, the main axes of economic policy were maintained, so we continued with the growth of the economy, including in 2009, in which all Latin American countries they had negative growth of their economy due to the financial crisis in the United States. Ours was the only one that had growth of 0.9%, recovering rapidly in the following years until reaching levels of 10%, barely surpassed by China. A decade of sustained growth of 6% on average allowed us to consolidate a contingency and stabilization fund of more than 6,000 million dollars and international reserves of more than 40,000 million dollars. Between 2012 and 2016 in the government of Ollanta Humala, the main beams of economic policy were also maintained, but the growth of the economy slowed down, due to the European and United States crisis and the consequent slowdown of the Chinese economy. . After a decade, the negative trade balance and the fiscal deficit were repeated as a result of the reduction in tax collection and strong social spending.
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